J.G. Wentworth Affiliates Pay Off $137 Million of Annuity-Backed Notes

J.G. Wentworth affiliates have paid off, as scheduled, approximately $ 137 million of notes from 1997 and 1998 securitization transactions according to Chief Investment Officer Stefano Sola.

The notes were backed by payment streams from structured settlements. Structured settlements are personal injury settlements paid out to claimants over time. The payments are funded through annuities issued by insurance companies.

The notes, J.G. Wentworth Receivables I LLC, Series 1997-1, and J.G. Wentworth Receivables III LLC, Series 1998-1, were paid off on September 15 and June 15 2009, respectively.

According to Mr. Sola, the J.G. Wentworth affiliates paid 100% of the obligations owed. The successful repayment of the notes on a timely basis demonstrates the integrity and stability of the underlying assets, Mr. Sola said. He added that the steady payment streams from the underlying structured settlements highlighted the very low correlation to the broader markets during the recent period of significant distress among most asset backed securities. There were no defaults and investors benefited from timely principal and interest payments, Mr. Sola said.

Structured settlement or annuity backed notes are fundamentally different than most asset backed securities in that they are less directly tied to general economic conditions and less directly tied the credit markets, Mr. Sola said. As such, they continue to offer investors attractive risk reward characteristics.

About the J.G. Wentworth family of companies:

J.G. Wentworth, Inc., based in Bryn Mawr, PA, is the nations oldest, largest and most respected buyer of deferred payments for illiquid financial assets like structured settlements and annuities. Since 1992, J.G. Wentworth has purchased over $ 4 billion of future payment obligations from consumers and is also the nations largest securitizer of structured settlement and annuity backed notes.

For more information about J.G. Wentworth, visit http://www.jgwentworth.com.